1822 21St AveForest Grove, OR 97116

Property Details for 1822 21St Ave

Lot size

0.36 AC

Property size (Sq ft)

5,055 SF

Zone code

TCT

Property type

Retail space

APN

1S306BB-03501

APU

1S306BB03501

Description

This exceptional 5,055 square foot storefront, located in the heart of Downtown Forest Grove, Oregon, presents a compelling investment opportunity. Currently 100% occupied by a credit-rated government agency under a NNN lease with 3 years remaining on a 5-year term, this property boasts a strong income stream. Built in 1994 and extensively remodeled in 2019, the building features a new roof, HVAC systems (including kitchen HVAC), plumbing, electrical, and a cold room addition. The 2019 remodel was a complete gut renovation down to the studs. Ten designated parking spaces and a loading dock are located at the rear of the building. The property offers a 6.38% cap rate and low annual property taxes of $1,106. The ample parking (8 spaces per 1,000 sq ft) and prime location near Pacific University make this a truly turnkey investment. The lease includes rent bumps. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a thriving Oregon community. Serious inquiries only. Please do not disturb the tenant. Located at 1822 21st Ave, Forest Grove, OR 97116.

Location Insight

City

Forest Grove

County

Washington

State

Oregon

Latitude

45.5206

Longitude

-123.115

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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